How To: Pay your contractor

Ilyce Glink with ExpertRealEstateTips tells us about how often home owners ask her "How much should I pay a contractor before he or she starts the job?". The one who will be answering this question is Line Epstein, Vice President of Baker Construction Group. "You should never pay your contractor in full before the entire job is completed" -he says. "Not that he's going to run off with your money, but you want to keep some incentive to get the job done right. You should give a deposit of 5 to 10 percent of the budget before work starts to pay for expenses like fencing and beginning supplies. The billing process can vary, but make sure you are getting a full accounting for your own records and for your lender."